Result of General Meeting

RNS Number : 7044N

United Oil & Gas PLC

10 May 2018

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD VIOLATE THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN UNITED OIL & GAS PLC OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION SHALL FORM THE BASIS OF, OR BE RELIED ON, IN CONNECTION WITH ANY INVESTMENT DECISION IN RESPECT OF UNITED OIL & GAS PLC.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (596/2014/EU) ("MAR").

Note: Capitalised terms in this announcement are defined in the Company's Circular dated 23 April 2018 unless the context otherwise requires.

For immediate release                                                                                                 10 May 2018

United Oil & Gas Plc

 ("UOG", "United" or the "Company")

Result of General Meeting

Placing and Subscription to raise £2.5 million

Total Voting Rights

PDMR Dealings

United Oil & Gas Plc is pleased to announce that at the General Meeting held earlier today, both Resolutions were passed unanimously.

Accordingly the 57,411,766 New Ordinary Shares conditionally placed by the Company's joint brokers Optiva and SP Angel at a price per share of 4.25 pence, together with the 1,411,764 New Ordinary Shares conditionally subscribed for on the same terms by Graham Martin, being the Non-Executive Chairman and Director, have been issued and allotted.   

Application has been made for the total of 58,823,530 New Ordinary Shares to be admitted to trading on the Official List of the UK Listing Authority and to trading on the Main Market of the London Stock Exchange plc ("Admission").  It is anticipated that Admission will become effective and that dealings in the New Ordinary Shares will commence at 08.00 am on 11 May 2018.  The New Ordinary Shares will rank pari passu in all respects with the Existing Ordinary Shares. 

Following Admission, Graham Martin will hold 1,411,764 Ordinary Shares, representing a percentage holding of 0.49 of the Enlarged Share Capital. 

Total Voting Rights

At Admission, the Company's issued share capital will consist of 291,068,531 Ordinary Shares of £0.01 each with voting rights.  No Ordinary Shares are held in treasury. Therefore the total number of Ordinary Shares in the Company with voting rights is 291,068,531.

The above figure of 291,068,531 may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

The following information relating to the transaction has been filed with the FCA in accordance with Article 19(1) of the Market Abuse Regulation

1	Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated
a)	Name	Graham Martin
2	Reason for notification
a)	Position / status	Chairman
b)	Initial notification /Amendment	Initial
3	Details of the issuer,  emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	United Oil & Gas plc
b)	LEI	213800WZWERBFYBQ9J17
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description  of  the financial instrument, type of instrument Identification code	Ordinary shares of £0.01 each in United Oil & Gas plc ISIN GB00BYX0MB92
	Nature of the transaction	Purchase of ordinary shares
c)	Price(s) and volumes(s)	Price(s) Volumes(s) 4.25 pence 1,411,764
d)	Aggregated information	n/a
e)	Date of the transaction	10 May 2018
f)	Place of the transaction	Outside a trading venue

For more information please visit the Company's website at www.uogplc.com or contact:

United Oil & Gas Plc (Company)
Brian Larkin	[e-mail]
Beaumont Cornish Limited (Financial Adviser)
Roland Cornish and Felicity Geidt	[phone]
Optiva Securities Limited (Joint Broker)
Christian Dennis	[phone]
Tejas Padalkar	[phone]
S.P. Angel Corporate Finance LLP (Joint Broker)	[phone]
Richard Redmayne
Richard Hail
Murray (PR Advisor)	[phone]
Joe Heron	[e-mail]

Beaumont Cornish Limited ("Beaumont Cornish"), which is authorised and regulated by the FCA in the conduct of investment business, is acting exclusively for the Company and for no-one else in connection with the Placing and Admission and will not be responsible to anyone other than the Company for providing the protections afforded to customers of Beaumont Cornish or for providing advice in relation to the contents of the Document, Admission, or any transaction, arrangement, or other matter referred to in the Document.

Optiva Securities Limited ("Optiva"), which is authorised and regulated by the FCA in the conduct of investment business, is acting exclusively for the Company and for no-one else in connection with the Placing and Admission and will not be responsible to anyone other than the Company for providing the protections afforded to customers of Optiva or for providing advice in relation to the contents of the Document, the Placing, Admission, or any transaction, arrangement, or other matter referred to in the Document.

S. P. Angel Corporate Finance LLP ("SP Angel"), which is authorised and regulated by the FCA in the conduct of investment business, is acting exclusively for the Company and for no-one else in connection with the Placing and Admission and will not be responsible to anyone other than the Company for providing the protections afforded to customers of SP Angel or for providing advice in relation to the contents of the Document, the Placing, Admission , or any transaction, arrangement, or other matter referred to in the Document.

 

END

 

 

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